The current sentiment of the cryptocurrency market turned “neutral” on Monday following nearly three months in the “greed” phase, according to the Crypto Fear and Greed Index by tracker Alternative.me.
The index currently shows a score of 52, indicating neutrality on a scale of 0 to 100. Near-zero levels suggest “extreme fear,” while near-100 levels indicate “extreme greed.”
The indicator had remained in the “greed” territory since Oct. 24 last year and hit a high of 76 points on Jan. 9 in anticipation of the U.S. approval of spot bitcoin exchange-traded funds.
The index takes into account multiple factors, including volatility, market volume, social media, dominance and trends, according to its website.
Bitcoin traded flat at around $42,550 over the past 24 hours as of 12:40 p.m. Hong Kong time, according to The Block’s price page.